Resources

This guide provides an overview of incentives and tax credits provided by the Port of Virginia.

All U.S. exports are regulated by the U.S. Federal Government. To comply with federal law, your company must determine which government agency has jurisdiction over its exports. The two most important export control laws are: Export Administration Regulations (EAR) (U.S. Department of Commerce) and International Traffic in Arms Regulations (ITAR) (U.S. Department of State).

What is an IC-DISC? The Interest Charge-Domestic International Sales Corporation (IC-DISC) is a tax saving vehicle for U.S. exporters. Eligible U.S. companies can recoup or exceed their tax savings on exported product (and in some cases services) revenue by creating an IC-DISC.

When traveling to a foreign country, you may be required to obtain a business visa or travel visa. Visa requirements vary depending on the purpose of your trip, such as tourism, business, or employment, and the country you will be visiting.

The value of the currencies can change quickly, sometimes between the time a deal is concluded and when payment is received. Exporters who choose to trade in foreign currencies can minimize foreign exchange exposure by using risk management techniques, such as spot exchange rates, forward hedges, options, etc.

Standards provide consistency for characteristics, guidelines, and specifications for products, services, and processes. International standards organizations, such as the International Organization for Standardization (ISO), the International Electrotechnical Commission (IEC), and the International Telecommunication Union (ITU) are examples of standards development bodies that develop guidelines and specifications for products, services, and processes.